Weekly Forex Trade Setups & Key Levels | Sep 13-18

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USDCHF – ST Support Coming Up, Bullish Bias Above Here (4hr chart)
After failing for a 3rd time this month at the 98 handle, the USDCHF has sold off impulsively to end the week. The pair is currently parked just above a key ST support level around 9670.

If this level folds, then expect the pair to unwind minimally towards 96 before any solid bids come in. If this level holds, then forex traders should expect the ST bullish bias to remain and another attempt on 9800 would be next.

usdchf

NZDUSD – Corrective Pullback After Large Selloff + Rate Cut (4hr chart)
After the surprise rate cut from the RBNZ last week, the NZDUSD has formed a corrective bounce off the key support at 6245. I’m expecting the role reversal level at 6415 to hold near term and for downside pressure to remain.

A break and close below 6200 puts the ‘big figure‘ at 6000 into context. I’m looking to stay bearish while below 6430 on a daily closing basis.

nzdusd

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